Social Media for business

According to a study conducted by Gartner, most Fortune 1000 companies will implement social media by 2010 but more than half of them will fail. Also many small businesses are of the opinion that social media channels like social networking is not working for them. This may be because these small businesses do not understand the working of social media and also have no knowledge on how to measure it. Some are of the opinion that small businesses profit from social media because the process starts from scratch.

Businesses need to have a social media personality. Social media helps businesses increase their brand visibility and helps build brand reputation. Businesses use social media primarily for communicating with customers and building a one-on-one relationship which helps build trust and reputation. As the main objective of businesses is to communicate with loyal customers and potential customers, it is vital for businesses to understand the sphere of social media and its working. Brands need to be human in their approach and encourage a dialogue making the communication two-way. Listening to customers and what the competitors are saying is an important aspect in building social media in business.

Deciding the channel for your brand is also necessary but that doesn't mean that brands need to have their presence in all the channels. Some brands are able to get the desired outcome through a limited number of channels or a specific channel. For instance, Zappos uses Twitter to communicate about the work culture, giving outsiders a view into Zappos and its philosophies. Businesses must begin by using one platform or channel to communicate their message, must gain proficiency here and then switch to the next channel.

After selecting the channel, it is vital to build a profile on the specific channel. Having a good profile helps build a lasting impression of the brand as a whole. Filling in the necessary details and uploading a picture to represent the brand is all the more important. Having a company logo or the face of a representative is crucial as it helps connect with millions of customers as opposed to having a question mark, or an image that does not relate to the brand.

As you know, communication is the primary step in the process of social media. Hence brands must be cautious about what they communicate and how they communicate the message. The content becomes a part of branding and remains an integral part of your branding process. What one communicates goes public and is viewed by millions of people, hence brands need to communicate the right message. Also having consistent messaging helps customers understand the personality of the brand. Social Media is a relationship tool that brings about engagement with customers and potential customers. Hence content must lead to interaction and participation where people can comment, discuss, exchange views and information, and make this experience rewarding for both the brand and the customers.

Analyzing the best social media tool is the last step. Analyzing the incoming traffic, number of conversations – positive and negative, number of clicks, number of people following you or the number of friends you have, looking at the profit in terms of sales or lead generation post the implementation of social media channels are some of the ways in which social media channels can be analyzed.

Lastly, one needs to realize that social media is a gradual process and takes time to build and maintain relationships. Tony Hsieh,CEO of Zappos, didn't make Twitter a happening platform for Zappos overnight, but did it over a period of time. Before long, we will see more and more companies jumping into the 'social media' bandwagon trying to connect with customers the world over.

Source: mashable